Taxation Law – GST - Excess Stock Found – Applicability of Sections 73/74 vs. Section 130 – Proceedings Quashed – The petitioner contested the use of Section 130 of the UPGST Act for proceedings related to the discovery of excess stock during a survey, claiming that the correct legal approach should involve Sections 73 or 74 – Held: The court agreed with the petitione...
Income Tax – Reassessment – Writ petition challenging reassessment based on an admitted error in filing – Petitioner made a mistake in the tax declaration under the Voluntary Disclosure Scheme, which led to a reassessment notice – The mistake was flagged to the authorities, including the Principal Commissioner of Income Tax (PCIT), but the mistake was not corrected, and rea...
Criminal Proceedings – Cheating and Dishonest Intent – Application to quash proceedings initiated for non-payment for supplied wheat – Applicants claimed dispute is civil in nature, and invoked moratorium under IBC – High Court held prima facie case under Section 420 IPC made out – Rejected plea of moratorium protection under IBC for criminal liability – Applica...
Central Goods and Services Tax Act, 2017 – GST Registration Suspension – Requirement of Landlord Consent – Tenant Rights – Suspension and Cancellation – The petitioner, M/s Crystal Beverages, challenged the order-cum-show cause notice dated 10.07.2024, suspending its GST registration over alleged unauthorized use of additional premises due to a lack of No Objection Ce...
Income Tax – Bogus Purchases – Disallowance of 10% – The appellant challenged the disallowance of 10% of purchases deemed bogus by the ITAT, despite the acceptance of sales as genuine by the Revenue – Held: The ITAT found no cogent or convincing evidence to support the Revenue's allegation that all purchases were bogus – The ITAT, however, upheld the CIT-A's d...
GST Law – Revocation of Voluntary Cancellation of Registration – Principles of Natural Justice – The petitioner challenged the revocation of voluntary cancellation of their GST registration and subsequent retrospective cancellation from 27 June 2020 – The CGST authorities had revoked the voluntary cancellation without issuing a show cause notice or granting a hearing &ndash...
Taxation Law - Broken Period Interest – Deduction for Securities Held as Stock-in-Trade – Revenue Expenditure – The court held that broken period interest, paid when a bank purchases government securities, should be treated as a revenue expenditure when the securities are held as stock-in-trade. This is because the income from securities is chargeable under Section 28 of the Inco...
Customs Law – Refund of Special Additional Duty (SAD) – Interest on Delayed Refund – The petitioner sought interest at 6% per annum on the delayed refund of SAD under Section 27A of the Customs Act, 1962 – The refund application was filed on 04 August 2014, and despite multiple remands and delays, the refund was sanctioned only in 2024 – Held: The interest should be c...
Income Tax – Reassessment Proceedings – Validity of Reopening Concluded Assessments – Whether reassessment can be initiated on the same grounds after a concluded assessment – Held, the initiation of reassessment proceedings for the same assessment year based on identical facts and figures is invalid – The Ashish Agarwal judgment did not mandate reopening of completed ...
Income Tax – Anonymous Donations – Section 115BBC – Applicability to Charitable and Religious Trusts – Appeals Dismissed – The appellant contended that the anonymous donations received by the Shree Sai Baba Sansthan Trust were taxable under Section 115BBC(1) since the trust was registered under Section 80G as a charitable institution – The Court held that the tr...